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. obama is repeating the mistakes much bush and the fed is still there, ben bernanke has been repeating the mistakes of gre greenspan. jo think we have change until we have a monetary crisis. that is looming on the horizon sometime soon. >> folks, thank you for joining us. we'll see what happens here as we head into the final hour of trade. >> bob insana was driving the market? >> the fact that apple isn't having the volatility that people thought. we were lower, 1.5% to the downside but apple is essentially flat on the day on huge volume. north of 30 million shares, that's what driving things today. there's a lot of talk about the impact of hurricane sandy but not a lot on the stock market. there's been play on roofing and water proofing company up a little bit here. rpm and wr grace do a lot of water proofing but i don't see heavy volume. insurance companies, understandably, some of the ones with exposures, little weak. travelers and chubb, not big volume in them. whitewave foods thinkds silk and land o lakes, opened at 19 and has broke the issuance price or fairly early this morning.
to sell off if obama wins. from here until two weeks from today, i think the market's going to continue under pressure. the question s do we continue with that pressure into year end or do we reverse it on an emotional high from a romney victory? 2013 is going to be a different story, but the last two months of the year will be purely on election emotion. >> and let me bring up another point. there was a story in "the new york times" this morning that ben bernanke is telling people privately he doesn't want a third term as fed chairman at this point. how much of that could be part of the selloff? >> i wouldn't link it to a rumor. it's too broad based and seems to be too much tied to the earnings announcements. having said that, while i think an election is important, i'm not sure which candidate is actually going to be good for the market. the reason is, to the extent we see a significant pullback on the spending, even by the government, i'm not sure that's going to be particularly positive, especially if it drives csignificant deceleratio in the economy. i think it's whoever can provid
might be better. >> what about that, david steinberg? in terms of the election, romney win versus obama win, what happens to the stock market? >> romney wins, mark goes higher because it's going to be more favorable to regulation, possibly getting rid of obamacare. in terms of fixed income markets, right now there's almost price fixing beginning on. the largest buyer in the bond market is the united states government. that's not an investor. they have a different agenda. if romney were to come in and ask the fed to pull back on those monetary policies, you're going to have the largest buyer in the market no longer there. the question would be, where would be the fair level for buys? i don't know. but i would suspect it would probably be a bit higher and certainly where it's trading now. >> all right. gentlemen, thank you all. keeping an eye on this market and pandora behind us. >> good to have you, thank you. >> we heard the bias at the close was to the upside. in fact, that's what's happening. the dow up nine points. >> we'll take a short break. then see this storm? it could be headed
Search Results 0 to 2 of about 3